Versión en EspañolREO properties are homes that are facing foreclosure because the previous homeowner failed to make payments on their government-sponsored REO loan. When a homeowner defaults on their loan, the REO authorities will have no choice but to repossess the house and sell it at public auction in order to rectify the debt. For homebuyers and investors, buying these REO properties at auction can be a great way to buy real estate for below its market price. This leaves plenty of room not only for savings, but for future profits on resale as well!
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